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Real Estate Tips
Financing Your Home >If You Are Self Employed

There's no question that it could be more difficult for you to get a mortgage loan if you are a free lance viola player than if you are a government accountant. Traditionally, lenders have been more cautious when evaluating loan applications of buyers who are self-employed than people who work for a regular salary.

However, if you are self-employed, there is no reason for you to shy away from applying for a home mortgage loan, especially if your earnings have been in the same field for at least two years. It is a good idea to meet with one or more loan officers before you begin your search. They will probably want to analyze your tax returns for the past 2 or 3 years, keeping in mind that many self employed people can look impoverished on paper, since you can write off some expenses that salaried individuals can not. Try to get pre-approval from the lender, and ask for a letter stating that you have pre-qualified for a loan which your real estate agent can attach to any offer you submit on a home. This will make you more attractive to the sellers.

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Real Estate Trivia
Q 
What is arguably the world's strangest (and most dysfunctional) kitchen?

A 
In 1998 the Kemper Museum of Contemporary Art in Kansas City first displayed a kitchen made entirely of 40 million colored glass beads by artist Liza Lou of Topanga, California.
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Top Texas Team, Broker Associate, real estate agents and broker for Aubrey, Pilot Point, Cross Roads and Tioga Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

Top Texas Team
ReMax First Realty III

8000 Highway 380
Cross Roads, TX 76227
940 365-6300
Fax: 940 365-5980
Email: Info@TopTexasTeam.net

I am both a Texas Realtor and Broker as well as a Illinois Broker, specializing in country properties North of Lake Lewisville to the Oklahoma border. I am a Director of the Greater Denton/Wise Board of Realtors and a Director of the Aubrey Area Chamber of Commerce. My husband and I live on 15 acres and raise quarter horses.

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